Lucknow: Healthcare technology company Docplix has raised Rs 1.2 crore in Bridge Round led by Tipping Point Companies. The funds raised will be used to product development, AI integrationand market expansion.
This will involve improving your EHR system, incorporating advanced AI capabilities to improve decision support and patient care, and expand its market reach to bring its innovative healthcare solutions to larger clinics and hospitals.
The startup is on a mission to transform healthcare in India by digitizing the medical records of 1.4 billion people. The company’s ABDM system Electronic Medical Record (EHR) ensures secure and interoperable management of patient data. The company’s integrated Decision Support System (DSS) helps healthcare professionals make informed decisions through data analysis. Additionally, innovative visualization tools make patient data easy to understand, improving patient care and clinical efficiency.
Vinay Bansal, founder and CEO of Inflection Point Ventures, said: “The government’s initiative Ayushman India The digital mission of building a health identification repository for all citizens to facilitate the exchange of information between doctors and patients is not an easy task. “DocPlix’s powerful platform, wellness programs and access to healthcare in Tier II and III cities drove our decision to invest in the company.”
The company has created a complete and deep AI-based Electronic Health Record (EHR) system for doctors, establishing itself as a leader in digital health solutions. The startup serves over 2,000 doctors and expands its reach through remote programs and clinics in tier II and III cities to address healthcare needs in underserved areas.
The company is experiencing rapid growth with its customer base constantly growing with a 93 percent renewal rate. The startup plans to expand globally, starting with the US in late 2024, with the goal of entering lucrative, technologically advanced markets to further amplify its impact in the healthcare sector.
Dr. Varun Garg, Co-Founder and CEO of Docplix, said, “We aim to become the leading EHR provider in India, leveraging advanced technologies such as artificial intelligence and data analytics to transform healthcare delivery. With a strong foundation and support from IPV, we are poised to scale globally, starting with the US, while continually innovating to meet the evolving needs of healthcare professionals and patients.”
The company launched its proprietary AI model, Pāṇini, created an ecosystem with over 3,000 doctors and became the market leader in Uttar Pradesh and Uttarakhand.
In 2022, the Indian electronic health records (EHR) market was valued at approximately $414 million and is projected to reach $900 million by 2030. Globally, the EHR market was valued at $25 billion in 2022 and is expected to grow to $40 billion by 2032. Meanwhile, the Indian lifestyle and wellness market rose to $1,300 billion by 2024, while the global market reached $5,546.0 billion. million dollars in 2023 and is expected to reach $9,245.8 billion in 2033.
